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American Express’ public image may be centered around consumer and small business cards, but in reality its reach is far broader. The company has set its sights on B2B payments, including the cross-border market.
Mercantile Bank is using a new instant payments manager from digital banking fintech Q2 to assist with facilitating real-time payments for business-to-business transactions via The Clearing House and eventually the FedNow payments rail. Q2’s instant payments manager will help the $4.9 billion, Grand Rapids, Mich.-based bank manage workflows of real-time payments within business-to-business (B2B) transactions